Here are Tuesday’s biggest calls on Wall Street: Piper Sandler reiterates Tesla as overweight Piper said it’s standing by its overweight rating on the stock, but lowered its price target to $280 per share from $300. “Since the Q1 call, investors have fretted about Tesla’s willingness to trade price for volume, and while we share management’s view that margins will eventually rise due to software, this won’t occur quickly enough to offset the near-term impact of lower prices, higher warranty costs, and slower inventory turnover.” Evercore ISI reiterates Apple as outperform Evercore said it’s bullish on Apple shares heading into earnings later this week. ” Apple should report modest upside to Mar-qtr driven by better iPhone units given better China/emerging market demand coupled with channel fill benefits.” JMP initiates Planet Labs as market outperform JMP said in its initiation of the earth imaging company that it has a strong competitive moat. “We like Planet for several reasons, including: 1) it has a fleet of over 200 satellites which form the infrastructure for a scalable, one-to-many, software-like business model; 2) robust imagery archives that create a technical competitive moat; 3) Planet is still nascent in its growth trajectory.” UBS initiates Ameresco as buy UBS said it sees an attractive entry point for shares of the renewable energy company. “We initiate coverage of AMRC shares with a Buy rating and $60 PT implying ~45% upside potential.” Barclays downgrades Shoals to underweight from equal weight Barclays said in its downgrade of the solar company that shares of Shoals are overvalued. “Our change in rating is underpinned by 1) the pricey valuation and 2) a 2023 outlook that we believe has risk.” Morgan Stanley upgrades Dell to overweight from equal weight Morgan Stanley says it’s getting more constructive on shares of the PC giant. ” DELL is our most-preferred US PC OEM given 1) secular share gains, 2) conservative FY24 guide, 3) attractive valuation, 4) a path to accelerated shareholder returns, and 5) potential S & P inclusion.” Read more about this call here. Citi downgrades Coinbase to neutral from buy Citi said in its downgrade of Coinbase that there are too many unknowns. “We lower our rating to Neutral/High-Risk on the belief that until the regulatory ‘rules of the road’ are better established in the U.S., the stock will remain weighed down by this high level of uncertainty.” Read more about this call here. Barclays initiates…
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